Lubricating Oil Additives Market
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Global lubricating oil additives market segmentation type application and<br />
region forecast to 2023<br />
Global <strong>Lubricating</strong> <strong>Oil</strong> <strong>Additives</strong> <strong>Market</strong> Segmentation Type<br />
Application and Region Forecast To 2023<br />
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Global lubricating oil additives market segmentation type application and<br />
<strong>Market</strong> Synopsis<br />
region forecast to 2023<br />
Global <strong>Lubricating</strong> <strong>Oil</strong> <strong>Additives</strong> <strong>Market</strong>: Information by End-User (Automotive, Industrial,<br />
and Others), Type (Antioxidant, Viscosity Index Improver, Detergent, and Others),<br />
Application (Engine <strong>Oil</strong>, Gear <strong>Oil</strong>, and Others), and Region—Forecast till 2023<br />
<strong>Lubricating</strong> oil additives are chemical compounds added to lubricating oil to provide new<br />
properties or enhance the present properties of the base oil. Some additives help suppress<br />
the undesirable properties of the base oil as well. These additives are mainly applicable in<br />
the automotive industry to allow for the safe and efficient working of the engine, gearbox,<br />
and other assembly. Moreover, this product is used in compressors and refrigeration systems<br />
to increase the lifespan of the machine. The additives that enhance the existing properties<br />
of the lubricating oil are anti-foaming agents, corrosion inhibitors, and antioxidants, whereas<br />
pour-point depressants and viscosity index improvers help suppress the undesirable<br />
properties of the base oils. In addition, detergents, extreme-pressure additives, and<br />
emulsifiers provide new properties to the base oils. For instance, on 7 September 2017,<br />
BASF India Limited, a subsidiary of BASF SE, inaugurated its new technical laboratory for<br />
fuel and lubricant solutions at its Navi Mumbai plant in India. The laboratory mainly focuses<br />
on oil packages for turbines, hydraulics and compressors, and the latest-generation tractors<br />
by achieving better fuel efficiencies and enhancing the lifetime of the complex machinery.<br />
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The key players operating in this market are adopting various business strategies such as<br />
product launches, expansions, joint ventures, agreements, R&D, and acquisitions to gain<br />
significant market shares. For instance, on 7 September 2017, BASF India Limited, a<br />
subsidiary of BASF SE, inaugurated its new technical laboratory for fuel and lubricant<br />
solutions at its Navi Mumbai plant in India. The laboratory mainly focuses on oil packages<br />
for turbines, hydraulics and compressors, and the latest-generation tractors by achieving<br />
better fuel efficiencies and enhancing the lifetime of the complex machinery.<br />
Segmentation Analysis<br />
The global lubricating oil additives market has been segmented on the basis of end-user,<br />
type, application, and region. Based on end-user, the global lubricating oil additives market<br />
has been segregated into automotive, industrial, and others. Considering the type of<br />
additive, the global lubricating oil additives market has been divided into antioxidant,<br />
demulsifier, viscosity index improver, detergent, friction modifier, anti-foam agent, corrosion<br />
inhibitor, and others. By application, the global lubricating oil additives market has been<br />
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Global lubricating oil additives market segmentation type application and<br />
region forecast to 2023<br />
categorized as engine oil, gear oil, hydraulic fluid, industrial oil, process oil, and others. The<br />
global lubricating oil additives market has been studied with respect to five regions, namely,<br />
Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.<br />
Key Players and Competition Analysis<br />
Some of the leading players in the global lubricating oil additives market are the Lubrizol<br />
Corporation (US), BASF SE (Germany), Infineum International Limited (UK), Tianhe<br />
Chemicals (China), Chevron Oronite Company LLC (US), Afton Chemical (US), Evonik<br />
Industries AG (Germany), Croda International PLC (UK), BRB International BV<br />
(Netherlands), Lanxess (Germany), and Krystal Lubetech Private Limited (India).<br />
Regional Analysis<br />
The global lubricating oil additives market has been studied with respect to five regions,<br />
namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.<br />
Asia-Pacific accounted for the largest share of the global lubricating oil additives market in<br />
2017. This can be attributed to the increased demand for the product in the automotive<br />
sector, especially in emerging economies such as China, India, Japan, Indonesia, and South<br />
Korea. Moreover, the growth of the industrial sector and the need for increasing the efficiency<br />
of machines are likely to fuel the growth of the lubricating oil additives market during the<br />
forecast period. North America and Europe are the other substantial markets for lubricating<br />
oil additives. North America being the second-largest region in automotive production, the<br />
demand for lubricating oil additives is expected to increase in the coming years. The rising<br />
need to reduce gas emissions and enhance fuel economy, coupled with advancements in the<br />
automotive sector, and is projected to boost the demand for the product in Europe. The<br />
major countries in this region contributing to market growth are Germany, the UK, France,<br />
and Italy. Lastly, the markets in the Middle East & Africa and Latin America are estimated to<br />
witness significant growth during the forecast period owing to technological advancements<br />
and the increasing demand for automobiles in these regions. Browse the market data and<br />
information spread across 100 pages with 47 data tables and 16 figures of the report “Global<br />
lubricating oil additives market segmentation type application and region forecast<br />
to 2023” in-depth alongside table of content (TOC) at:<br />
https://www.marketresearchfuture.com/reports/lubricating-oil-additivesmarket-6316<br />
P a g e | 3 sales@marketresearchfuture.com Copyright © 2017 <strong>Market</strong> Research Future.
Global lubricating oil additives market segmentation type application and<br />
region forecast to 2023<br />
P a g e | 4 sales@marketresearchfuture.com Copyright © 2017 <strong>Market</strong> Research Future.
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